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Stellar Growth Prompts pan's Move to New Office Space

November 8, 2004– Company Plans for Continued Customer Demand

Performance Assessment Network, Inc. (pan), the international best-practices provider of web assessment and e-testing solutions, today announced the relocation of the company's world headquarters to significantly larger offices in the heart of the Meridian Corridor of Carmel, IN.

"To meet continued customer demand for pan's offerings, we've nearly tripled our staff to 75 employees, and have increased our office space in consideration of a projected annual growth of 35 to 40 percent," said pan COO Doug Cole. "The word is out -- our customers are achieving impressive results with pan's state-of-the-art, secure automated systems for the administration and delivery of professional assessment and testing instruments."

pan powered solutions are used in most vertical businesses as well as in government, health care, education, and certification programs. The pan technology system is patented in the United States, has defined the best practice in web-based assessment, and has exceeded the security and performance audit requirements of some of the most demanding, security-conscious users in operation.

With an established testing footprint in Europe, pan is in a position to rapidly become one of the leading assessment businesses internationally and is looking forward to introducing Vita, pan's integrated hiring and selection solution, to European clients. Vita provides recruiting, hiring, and human resource professionals with the Vital Information for Talent Assessment needed to identify and compete for top performers. Vita 2.0 leverages the combined power of encrypted Internet data management with state-of-the-art human performance measurement techniques. The system supports complex, high-volume selection systems internationally, including programs for major U.S. government departments.

"While our strategy is to expand the business globally, pan remains steadfast in its commitment to also act locally," said pan CEO David T. Pfenninger, Ph.D. "We continue to seek opportunities to assist our community, such as our recent sponsorship of the 2004 FINA World Swimming Championships at Conseco Fieldhouse, an event that garnered an international spotlight and benefited the local economy."

"We are delighted that of all the great communities in the Indianapolis-area, pan has chosen to stay in Carmel's Meridian Corridor, home to some of the top corporate names in the United States," said Mayor Jim Brainard. "Carmel's commitment to a high quality of life has created a business-friendly environment to attract and retain high-growth companies such as pan."

pan's new 15,000 square foot offices are located at 11590 N. Meridian Street, Suite 200, Carmel, IN USA 46032. The telephone and fax numbers are (317) 566-3270 and (317) 566-3271, respectively.

About pan

Performance Assessment Network, Inc. (pan) is the leading provider of Internet-based testing and assessment solutions, with over 6500 corporate, government, and education clients internationally. pan administers millions of tests, assessments, and surveys annually. pan also manages a network of high-stakes testing centres in addition to its internet testing and Vita platforms, IT professional and consulting services, and product distribution businesses. One of the fastest growth companies in the U.S. in 2003-2004, closely held pan is based in Carmel, IN.
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